Perpetual is cautious on US portfolios

Perpetual is building up an 8% cash weighting in its mainstream US portfolios amid a cautious view on the North American market, writes Leo Bland. The group has increased its cash weightings from around 2% a month ago in Perpetual American Growth, which is run by Ian Brady, and Perpetual Offshore American Growth, which is managed by Phil Chappell, off the same model as the unit trust. Chappell said Perpetual is expecting a difficult period for US equity markets over the next few months as it thinks the Federal Reserve is likely to raise interest rates further to cool inflationary pressur...